{"id":1004149540,"date":"2016-08-10T00:31:55","date_gmt":"2016-08-10T08:31:55","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004149540"},"modified":"2025-02-26T23:38:52","modified_gmt":"2025-02-27T07:38:52","slug":"yardi-matrix-tampas-triumph","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-tampas-triumph\/","title":{"rendered":"Yardi Matrix: Tampa\u2019s Triumph"},"content":{"rendered":"<div id=\"attachment_1004149482\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/Metro_Tempa_0816_Rent.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004149482\" data-attachment-id=\"1004149482\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-tampas-triumph\/metro_tempa_0816_rent\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/Metro_Tempa_0816_Rent.jpg\" data-orig-size=\"800,400\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Tampa rent evolution, click to enlarge\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Tampa rent evolution, click to enlarge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/Metro_Tempa_0816_Rent.jpg?w=800\" class=\"wp-image-1004149482 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/Metro_Tempa_0816_Rent.jpg\" alt=\"Tampa rent evolution, click to enlarge\" width=\"300\" height=\"150\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/Metro_Tempa_0816_Rent.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/Metro_Tempa_0816_Rent.jpg?resize=300,150 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/Metro_Tempa_0816_Rent.jpg?resize=768,384 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004149482\" class=\"wp-caption-text\">Tampa rent evolution, click to enlarge<\/p><\/div>\n<p>The Tampa-St. Petersburg-Clearwater metro\u2019s multifamily market has had an\u00a0exceptional run over the past year, thanks to robust demand driven by healthy\u00a0job and population growth. One attraction is Tampa\u2019s status as one of the most\u00a0affordable major metros in the Sunshine State, with the average rent sitting at\u00a0$1,000 and median home prices in the lower $150,000 range.<\/p>\n<p>Trade and transportation remains one of the main economic drivers in Tampa,\u00a0along with tourism, education and health services. Port Tampa Bay, the University\u00a0of South Florida and the MacDill Air Force Base combined have an economic\u00a0impact of $31.5 billion annually. The metro added more than 49,900 jobs in the\u00a0past year across all fields. That is partly attributable to the Tampa Downtown\u00a0Partnership, which focuses on job creation and investment and supports initiatives\u00a0in the city\u2019s central business district.<\/p>\n<p>All this has created an environment beneficial for multifamily fundamentals.\u00a0Occupancy rates are rising, and developers are responding. More than 5,000\u00a0multifamily units came online last year, and as of June roughly 6,900 units were\u00a0under construction. Looking forward, the strong supply should more than cover\u00a0demand, although the need for affordable housing remains an issue. Rents have\u00a0risen by an above-trend 7.5 percent year-over-year through June, but we expect the\u00a0growth rate to moderate a little to 5.5 percent by year-end.<\/p>\n<p><a href=\"https:\/\/www.yardimatrix.com\/Media\/Downloads\/File\/106-Tampa-Summer2016Outlook?signup=false\" target=\"_blank\" rel=\"noopener\">Read the full Yardi Matrix Report<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Multifamily Summer Report 2016: The area has had an exceptional run over the past year, thanks to robust demand driven by healthy job and population growth.<\/p>\n","protected":false},"author":873,"featured_media":1004149466,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37769,21782,21808,21742,37795,1612],"tags":[],"class_list":["post-1004149540","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rc-absorption","category-development","category-featured","category-latest","category-rc-occupancy","category-tampa"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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